Jan. 26 (Bloomberg) -- Glyn Powell, a senior attorney at the U.K. Serious Fraud Office, left the agency to join law firm Jones Day, adding to the number of departures under the current director.
Powell, the former head of fraud and assurance at the SFO, joined the U.S. firm this week after eight years at the agency. He oversaw investigations of the U.K. operations of Bernard Madoff, who is serving a 150-year sentence for operating the largest Ponzi scheme in history, and Asil Nadir, the former Polly Peck International Plc chief executive officer who went on trial this week in London accused of stealing 150 million pounds ($235 million).
“Glyn’s criminal experience is a perfect adjunct to the civil team here,” said Craig Shuttleworth, the head of litigation in London at Jones Day, a Washington-based firm that according to its website has clients including Bank of America Corp., Deutsche Bank AG and Goldman Sachs Group Inc.
In the past two years, many of the SFO’s top lawyers have left for the private sector. Keith McCarthy, the former chief investigator, departed in December to join the accounting firm PricewaterhouseCoopers. General Counsel Vivian Robinson, Charlie Monteith, a senior policy adviser, Robert Amaee, head of anti- corruption and the proceeds-of-crime units and Kathleen Harris, the prior head of fraud, also left the agency last year for U.S. law firms.
Powell is being replaced on an interim basis at the SFO by case managers Jane de Lozey and Claire Whitaker until a new director takes over in April, David Jones, an SFO spokesman, said. Richard Alderman, the director since 2008, will be replaced by David Green, a barrister who was formerly the director of the Crown Prosecution Service’s Fraud Group.
Facing dwindling resources from government budget cuts and the staff departures, the SFO has closed at least four major probes in the past two years without bringing any charges.
“Glyn made a tremendous contribution to the success that the SFO has achieved and we wish him well,” said Phillippa Williamson, the agency’s CEO. “His SFO experience will undoubtedly provide benefit.”
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